Thursday, December 3rd, 2020

Governor approves $30 million, small businesses

Posted: Friday, June 5, 2020

Governor Holcomb approved $30 million in federal funding made available through the CARES Act to small business restart grants, helping accelerate the speed of economic recovery activity by providing working capital to cover certain expenses related to the global pandemic.

Eligible Indiana small businesses can seek reimbursement for up to 80% of qualified expenses, such as rent/mortgage payments, utilities, lease payments for real or personal property, and safety investments, such as personal protective equipment (PPE) and infrastructure improvements. Of the $30 million allocated to the fund, at least $5 million will be reserved for certified minority- and women-owned businesses.

Grant Eligibility:

* Business must be registered to operate in Indiana

* Business must have had less than 50 employees at of 12/31/2019

* Business must have had less than $5 million in revenue in 2019

* Business must have been profitable in 2019

* Businesses must demonstrate a monthly revenue loss of at least 40% compared to pre-COVID-19 revenues

* Business must not have used funding from the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), or Community Development Block Grant (CDBG)

For more detailed information and to apply, please visit the Small Business Restart Grant program webpage.

NOTE: The grant application opened Wednesday, June 3. Please understand that the Huntington County Chamber of Commerce is only able to provide general information on this grant. The Chamber of Commerce is unable to assist applicants with potential technical difficulties associated with the grant application.